Long-Term, Low-Cost, Investment-Grade Facility Provides Additional Capital to Drive Market and Client Expansion
DENVER–(BUSINESS WIRE)–STACK INFRASTRUCTURE (“STACK” or the “Company”), the data center company built from the ground up to address the technology infrastructure needs of rapidly scaling enterprises and hyperscale companies, today announced the issuance of $225 million in new securitized notes (the “Notes”). The Notes are rated “A-” by Standard & Poor’s. STACK is a programmatic asset-backed security issuer. Together with its inaugural securitization in February 2019, the Company has raised more than $1 billion.
This financing represents another milestone in STACK’s growth since the Company’s launch in early 2019. STACK also recently announced new developments to support client expansion in Chicago, Portland and New Albany, Ohio, with both existing operations and plans for further development. With the proceeds from this securitization, STACK intends to consistently invest in its portfolio of campuses in rapidly growing markets.
“The terrific success of this financing is a testament to the quality of the platform that we’re continuing to build at STACK,” said Heather Paduck, Chief Financial Officer of STACK. “The broad and deep investor demand we experienced is gratifying and validates our leadership position in the market as we continue to underpin our overarching strategy of forging strong relationships with our clients to support their growth needs.”
The Notes have not been, and will not be, registered under the Securities Act of 1933 as amended, registered or qualified under any applicable state securities laws. They may not be offered or sold without such registration or an applicable exemption from the registration requirements thereunder. STACK is not obligated to register the Notes. This press release is neither an offer to sell nor a solicitation of an offer to buy any Notes, and there shall not be any sale of the Notes in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
For more information about STACK, please visit: www.stackinfra.com
ABOUT STACK INFRASTRUCTURE
STACK is a leading data center company built from the ground up to address the full stack of its clients’ critical infrastructure needs, today and into the future. The Company delivers a comprehensive suite of wholesale colocation, build-to-suit, and powered shell solutions in seven markets today: Atlanta, Georgia; Chicago, Illinois; Dallas/Fort Worth, Texas; New Albany, Ohio; Northern Virginia; Portland, Oregon; and Silicon Valley, California. With unparalleled existing and flexible expansion capacity in the leading availability zones, STACK provides the scale and geographic reach that rapidly growing enterprises and hyperscale companies need. For more information, please visit www.stackinfra.com.
iMiller Public Relations